Question

Biodiversity is a broad term that describes the diversity of genes, species, and ecosystems in a given area. Measuring the value of biodiversity is difficult because it ultimately depends on assigning economic value to species. Wood represents an economic resource in terms of fuel and building material. Wood as living trees is also valuable for other reasons besides the economic. In this exercise, we will attempt to measure the various values of trees, both as wood and as living organisms. Previous classes have estimated the economic value of lumber by measuring trees on campus and estimating the value in terms of lumber. We have extensively measured two types of trees on campus: the oaks that line the Avenue of the Oaks and the Longleaf Pine trees that are scattered around campus. The average dollar value for the oak trees on campus is $2,491.31 ± 297.86 (25 trees), while the average dollar value for Pine trees on campus is $315.71 ± 21.48 (15 trees). Oaks trees are slow to grow to maturity and live a long time. The trees on the Avenue were planted after the Civil War (circa 1865), so at least the majority of trees are upwards of 150 years old. Long Leaf Pine trees grow much faster and typically do not live as long as the oaks. The trees on campus are likely 70 to 75 years old. Questions: 1. For the Oak and pine trees that we have measured list other economic values that these trees have beyond timber sales. Consider functions of climate moderation, enhancing the value of the property, recreational potential, and watershed protection. Include what these services might cost if you had to buy them on the open market. You may want to show this information in tabular form. 2. Compare your estimates for the dollar value with question one. Which would you do, leave them standing or cut them down? Justify your answer.

          Biodiversity is a broad term that describes the diversity of
genes, species, and ecosystems in a given area.  Measuring the
value of biodiversity is difficult because it ultimately depends on
assigning economic value to species.  Wood represents an
economic resource in terms of fuel and building material. 
Wood as living trees is also valuable for other reasons besides the
economic.  In this exercise, we will attempt to measure the
various values of trees, both as wood and as living
organisms.  Previous classes have estimated the economic value
of lumber by measuring trees on campus and estimating the value in
terms of lumber.  We have extensively measured two types of
trees on campus: the oaks that line the Avenue of the Oaks and the
Longleaf Pine trees that are scattered around campus.  The
average dollar value for the oak trees on campus is $2,491.31 ±
297.86 (25 trees), while the average dollar value for Pine trees on
campus is $315.71 ± 21.48 (15 trees).  Oaks trees are slow to
grow to maturity and live a long time.  The trees on the
Avenue were planted after the Civil War (circa 1865), so at least
the majority of trees are upwards of 150 years old.  Long Leaf
Pine trees grow much faster and typically do not live as long as
the oaks.  The trees on campus are likely 70 to 75 years
old. 
Questions:
1.      For
the Oak and pine trees that we have measured list other economic
values that these trees have beyond timber sales.  Consider
functions of climate moderation, enhancing the value of the
property, recreational potential, and watershed protection. 
Include what these services might cost if you had to buy them on
the open market.  You may want to show this information in
tabular form.
2.     
Compare your estimates for the dollar value with question
one.  Which would you do, leave them standing or cut them
down?  Justify your answer.

Added by Jose P.

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